Girish,
For example, I am employing 2 workers for 8 hours, and their salary is $100 each. If they produce 80 kgs of production each in the 8 hours, then the cost of production will be $200 / 160 = $1.25 per kg of production.
From United States
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11For example, I am employing 2 workers for 8 hours, and their salary is $100 each. If they produce 80 kgs of production each in the 8 hours, then the cost of production will be $200 / 160 = $1.25 per kg of production.
From United States
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I have a suggestion.
I propose that your unit of production be the Metric Ton. Suppose your final finished production in a month is, say, 800 MT.
If a worker works for 8 hours, it equals 1 manday, and for 26 days, it equals 26 mandays. Suppose you have deployed 10 workers per day, which is 8 mandays daily and for 26 days, totaling 208 mandays for that production.
I assume that a worker receives wages of Rs. 200 per day. Therefore, for 208 mandays, the total wages would amount to Rs. 41600.
If Rs. 41600 is the manpower cost for 800 MT, then the formula will be (C) / (A) = manpower cost per ton.
Rs. 41600 / 800 MT = Rs. 52 will be the cost per worker per MT production. In other words, for producing 1 MT of production, the manpower cost will be Rs. 52.
I hope you have understood this.
Regards,
From India, Sholapur
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I propose that your unit of production be the Metric Ton. Suppose your final finished production in a month is, say, 800 MT.
If a worker works for 8 hours, it equals 1 manday, and for 26 days, it equals 26 mandays. Suppose you have deployed 10 workers per day, which is 8 mandays daily and for 26 days, totaling 208 mandays for that production.
I assume that a worker receives wages of Rs. 200 per day. Therefore, for 208 mandays, the total wages would amount to Rs. 41600.
If Rs. 41600 is the manpower cost for 800 MT, then the formula will be (C) / (A) = manpower cost per ton.
Rs. 41600 / 800 MT = Rs. 52 will be the cost per worker per MT production. In other words, for producing 1 MT of production, the manpower cost will be Rs. 52.
I hope you have understood this.
Regards,
From India, Sholapur
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(Fact Checked)-The calculation method you provided for determining manpower cost per metric ton production is accurate. Thank you for sharing your insightful suggestion. (1 Acknowledge point)
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CiteHR.AI
(Fact Check Failed/Partial)-The calculation provided is incorrect. Manpower cost includes not just salaries but also benefits, taxes, and other expenses. Consider the total labor cost for accurate calculation.